Because the Pelicans have 16 total Contracts and Cap Holds and the NBA allows a maximum roster of 15, one of the two cheapest contracts under control of the team was sacrificed in order to keep the Maximum Salary Figure as large as possible for this analysis. Even after this maneuver, the Pelicans would be unable to make changes to the roster except through trades or getting rid of a Contract or Cap Hold because they would be at the maximum roster size . . . you need Cap Room AND Roster Room to acquire players. Therefore, they would have to waive a player or renounce rights, with the latter being the least destructive since you can still sign a player whose rights you renounce, just not with the Bird Exception.

The New Orleans Pelicans may be well-served to consider themselves over the Salary Cap if their offseason acquisitions will come as part of a high dollar trades that fit the constraints of the Traded Player Exception. If this is the case and such a trade is done early in the offseason, the team can preserve the use of the Non-Taxpayer Mid-Level Exception and Biannual Exception. If the Pelicans are under the cap, they have cap space in which add players and the Room Mid-Level Exception, which is much smaller than the Non-Taxpayer Mid-Level Exception and around 30% larger than the Bi-Annual Exception. The total of the Non-Taxpayer Mid-Level Exception and the Bi-Annual Exception is larger than the Room exception by a factor of about 2.7. Going the Exception route, you can add more salary through signings, but those individual signings are limited by the Exception amounts and they can not be combined. Going with cap room, they can signing larger individual contracts, if necessary, using Cap Room but will have less flexibility once they are over the Cap.

Important Dates:

July 5, 2014: Last day to waive Jeff Withey at $0 cost in 2014-2015.

July 10, 2014: Free Agents can be signed, Trades can officially be made

July 16, 2014: Last day to tender First Round Draft Picks

July 22, 2014: Last day to waive Jeff Withey at $100,000 cost in 2014-2015.

July 22, 2014: Last day to waive Luke Babbitt at $0 cost in 2014-2015.

August 1, 2014: Last day to waive Melvin Ely at $0 cost in 2014-2015.

August 31, 2014: Last day to waive and stretch players inclusive of 2014-2015 season.

September 6, 2014: Last day to tender Second Round Draft Picks

October 4, 2014: 2014-2015 Pre-Season begins (estimated)

October 25, 2014: 2014-2015 Pre-Season ends (estimated)

October 29, 2014: 2014-2015 Regular Season begins (estimated)

October 31, 2014: Last day to waive each of Anthony Davis, Austin Rivers at $0 cost in 2015-2016

January 6, 2015: 10-Day Contracts can be signed

April 16, 2015: 2013-2014 Regular Season ends (estimated)

April 19, 2015: 2013-2014 Post-Season begins (estimated)

June 26, 2015: NBA Draft

June 30, 2015: Last day to waive Luke Babbitt at $100,000 cost in 2014-2015. Nota Bene: More than this amount will be owed to Babbitt at some point in December. After that point, the Pelicans waiving him has no advantage other than creating a roster spot.